Business intelligence solutions refers to a set of software tools that are used to analyze and draw insights from data than an organization produces during the course of its activities. It enables the data to be managed, analyzed and transformed into visualizations that inform strategic planning for an organization.
Common functions of this type of software include the ability to provide historical, current and projected views of business operations. They also enable flexible reporting tools, online analytical processing, data mining, complex event and process modelling, benchmarking and prescriptive analysis among others.
The aim is to make sense of very large historical datasets (often called a ‘data warehouse’) that an organization holds to help identify and implement new opportunities and / or to see where changes need to be made for the organization to run more efficiently and thereby achieve competitive advantage.